Group Accounting

An Analytical Approach

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Group Accounting

An Analytical Approach

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Beskrivning

Walter Schuster is professor of accounting and managerial finance at the Stockholm School of Economics (SSE). He has been a teacher on the topic of mergers and acquisitions for many years, both in the bachelor and master programs at SSE and in executive education programs. In parallel to this he has worked with standard-setting as a member of the Swedish national standard-setter and in international groupings, such as the Joint International Group on Performance Reporting of the International Accounting Standards Board and the Financial Accounting Standards Board. Group Accounting An Analytical Approach This book presents an analytical method that helps the user form an opinion about the important consequences of a business combination. Group Accounting – An Analytical Approach has particular focus on the effects on profitability and financial position calculated from consolidated financial statements. Business transactions such as mergers, acquisitions of minority holdings, and disposals are also analysed. In this second edition there are chapters on step acquisitions and disposals and accounting for the cash flow effects of an acquisition. There is also an extended analysis of differences between amortisation of goodwill and impairment testing. The book discusses the most common methods in group accounting. However, the aim is to provide a general exposition of the issues since accounting rules tend to change over time and sometimes differ across jurisdictions. Numerical examples are used and important concepts are illustrated by excerpts from annual reports. Group Accounting – An Analytical Approach is intended for university students in accounting and is instrumental for understanding and analysing group accounting. Second Edition

Innehållsförteckning

- 7
  Preface to the first edition
- 9
  Preface to the new edition
Part I An analytical approach to group accounting
- - 1
    13
    Introduction
    - 1.1
      13
      Demand for group accounting
    - 1.2
      15
      The use of accounting information
    - 1.3
      16
      The basic principles of group accounting
    - 1.4
      20
      Disposition
  - 2
    23
    General effects of group organisation
    - 2.1
      23
      Introduction
    - 2.2
      23
      The timing issue
    - 2.3
      26
      Disaggregation
    - 2.4
      27
      Summary
Part II The effects of an acquisition when the whole firm is acquired
- - 3
    35
    Effects of financing
    - 3.1
      35
      Introduction
    - 3.2
      35
      Financing with interest-bearing borrowings
    - 3.3
      41
      Surplus cash
    - 3.4
      43
      New shares
    - 3.5
      45
      Summary
  - 4
    47
    Effects of price
    - 4.1
      47
      Introduction
    - 4.2
      48
      The fair value of the indirectly acquired net assets exceed their book value in the subsidiary’s balance sheet
    - 4.2.1
      50
      Assets that are not depreciated
    - 4.2.2
      52
      Assets that are depreciated
    - 4.2.3
      54
      Deferred taxes related to indirectly acquired assets
    - 4.3
      57
      The fair values of indirectly acquired assets and liabilities equal their book values in the subsidiary Goodwill
    - 4.3.1
      60
      Expected abnormal profits
    - 4.3.2
      63
      Synergies
    - 4.4
      65
      Alternative accounting methods
    - 4.4.1
      65
      A comparative analysis of amortization and impairment testing
    - 4.4.2
      68
      Negative short-term effects
    - 4.4.3
      72
      Long amortisation periods and immediate write-downs
    - 4.5
      75
      Summary
Part III Other kinds of business transactions
- - 5
    81
    Reverse acquisitions and mergers
    - 5.1
      81
      Introduction
    - 5.2
      81
      Reverse acquisitions
    - 5.3
      85
      Mergers
    - 5.4
      89
      Summary
  - 6
    91
    The acquisition of a majority share of another company
    - 6.1
      91
      Introduction
    - 6.2
      91
      The price equals the acquired share of equity
    - 6.3
      98
      The price exceeds the acquired share of equity
    - 6.4
      102
      Summary
  - 7
    105
    The acquisition of a minority share in another company
    - 7.1
      105
      Introduction
    - 7.2
      105
      Price equals acquired share of equity
    - 7.3
      113
      A comparison of different consolidation methods
    - 7.4
      117
      The price exceeds the acquired share of equity
    - 7.5
      119
      Summary
  - 8
    121
    Disposals
    - 8.1
      121
      Introduction
    - 8.2
      122
      Disposal of a company within the group Price equals book value of sold assets
    - 8.3
      125
      Disposal of a company within the group Price exceeds book value of sold assets
    - 8.4
      127
      The group’s holding gain in the presence of goodwill
    - 8.5
      129
      Summary
  - 9
    131
    Step transactions
    - 9.1
      131
      Introduction
    - 9.2
      132
      Step acquisition within the limit of control
    - 9.3
      135
      Step acquisition within the limit of control Price increase
    - 9.4
      140
      Step acquisition crossing the limits of control Constant price
    - 9.5
      142
      Step acquisition crossing the limit of control Price increase
    - 9.6
      146
      Partial disposal within the limit of control
    - 9.7
      148
      Partial disposal crossing the limit of control
    - 9.8
      150
      Summary
  - 10
    155
    Cash flow effects of an acquisition
    - 10.1
      155
      Introduction
    - 10.2
      155
      Effects of financing
    - 10.3
      157
      Alternative accounting methods
    - 10.4
      161
      Purchase accounting effects and cash earnings
    - 10.5
      161
      Cash flow effects using the equity method
    - 10.6
      162
      Summary
Part IV Effects of operations abroad
- - 11
    167
    The effects of exchange rate changes
    - 11.1
      167
      Introduction
    - 11.2
      167
      Effects of exchange rate changes: the closing-rate method
    - 11.3
      170
      Effects of a weaker DCU
    - 11.4
      180
      The price exceeds the net assets
    - 11.5
      181
      Effects of a stronger domestic currency
    - 11.6
      182
      Hedging equity or hedging the equity-to-assets ratio
    - 11.7
      188
      Summary
  - 12
    189
    Effects of exchange rate changes – extended analysis
    - 12.1
      189
      Introduction
    - 12.2
      189
      The monetary – non monetary method
    - 12.3
      198
      A comparison between the two methods over time
    - 12.4
      202
      Summary
  - 13
    205
    Operations in highly inflationary economies
    - 13.1
      205
      Introduction
    - 13.2
      205
      Business conditions in highly inflationary economies
    - 13.3
      207
      The monetary non-monetary method
    - 13.4
      208
      The closing-rate method
    - 13.5
      210
      Adjusting the closing-rate method for inflation
    - 13.6
      213
      Summary
- 215
  References
- 217
  Index

Information

Författare:: Walter Schuster
Språk:: Engelska
ISBN:: 9789144120188
Utgivningsår:: 2005
Revisionsår:: 2017
Artikelnummer:: 31764-02
Upplaga:: Andra
Sidantal:: 192

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Författare

Walter Schuster

Walter Schuster är innehavare av PwC:s professur i redovisning och revision vid Handelshögskolan i Stockholm. Han är intresserad av processerna för...

;

Beskrivning

This book presents an analytical method that helps the user form an opinion about the important consequences of a business combination. Group Accounting. An Analytical Approach has particular focus on the effects on profitability and financial position calculated from consolidated financial statements. Business transactions such as mergers, acquisitions of minority holdings, and disposals are also analysed. In this second edition there are chapters on step acquisitions and disposals and accounting for the cash flow effects of an acquisition. There is also an extended analysis of differences between amortisation of goodwill and impairment testing. The book discusses the most common methods in group accounting. However, the aim is to provide a general exposition of the issues since accounting rules tend to change over time and sometimes differ across jurisdictions. Numerical examples are used and important concepts are illustrated by excerpts from annual reports. Group Accounting. An Analytical Approach is intended for university students in accounting and is instrumental for understanding and analysing group accounting.

Information

Författare:: Walter Schuster
Språk:: Engelska
ISBN:: 9789144163314
Utgivningsår:: 2005
Revisionsår:: 2017
Artikelnummer:: 31764-SB02
Upplaga:: Andra

Författare

Walter Schuster

Walter Schuster är innehavare av PwC:s professur i redovisning och revision vid Handelshögskolan i Stockholm. Han är intresserad av processerna för...

;